Following the takeover, Groupama will retain its interests in the other private equity funds managed by Groupama Private Equity (GPE) that includes fund of funds and mezzanine debt.
GPE’s divisions that will join ACG include EUR1.6 billion of assets managed on behalf of Groupama and its institutional clients via fund of funds Quartilium and mezzanine debt unit ActoMezz, which have assets of EUR1.4 billion and EUR220 million respectively.
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The merged group will have around EUR3.5 billion of assets under management.
The sale of GPE was part of a series of planned disposals by Groupama to raise cash and offset huge losses incurred by its larger-than-average holdings of equities and Greek sovereign debt.
A source familiar with the matter said ACG has merely acquired GPE’s team, who will continue to receive a management free from Groupama for the management of the fund portfolios, which have not been sold despite a sale process spanning more than 10 months.
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